It had asked govt banks to reduce these and certificates of deposits to a combined 15% of total deposits
On sarkaritel.com, a private initiative that serves as a gateway to the government, the council of ministers does not include the finance portfolio at all.
The governor had just made an elaborate presentation in defence of the central bank's decision to not to succumb to industry's demand for rate cuts in the mid-quarter policy.
The governor had just made an elaborate presentation in defence of the central bank's decision to not to succumb to industry's demand for rate cuts in the mid-quarter policy.
Lender to acquire 30% after existing shareholders divest stake
According to sources, the central bank is keen on such a scheme to attract foreign exchange, as the country's reserves have seen a depletion in the wake of a weakening domestic currency.
Ministry says capital infusion if loans extended only to productive sectors
With 1.36 million employees, the railways are one of the country's biggest employers, constituting 28 per cent of the total central government employees.
High crude oil prices, which the central bank perceives as a risk to inflation, may limit the extent of rate cut to 25 basis points rather than 50 bps, economists said.
SBI keeps IDBI waiting for proposal to set up infra development fund
In January, banks had rejected SBI Caps' initial proposal on Air India's debt recast, which suggested converting a part of the carrier's debt into cumulative redeemable preference shares, with an eight per cent dividend.
UB Group Chairman Vijay Mallya has turned down suggestions from banks that he should give a personal guarantee as a precondition for additional funding to the cash-strapped Kingfisher Airlines.
Reports that the government is considering seeking a review of that judgment are worrying.
Indian aviation has deep-rooted problems that need comprehensive and coordinated solutions, and high aviation turbine fuel pricing is certainly the most urgent.
The government must guarantee the entire loan and the interest rate, so that there is no additional provisioning requirement.
Air India's debt recast plan has hit a deadlock with both the national carrier and banks continuing to stick to their stand even as the regulator has disapproved providing dispensation, thus only compounding the problem.
Writes to govt for legal amendment, proposes committee that'll consult other sector regulators.
The finance ministry's ambitious plan to implement portability in savings accounts has not found favour with the Reserve Bank of India (RBI).
Prefer proposal for airline to float bonds guaranteed by govt.
The decision was taken at the State Bank of India headquarters in Mumbai on Monday when the top managements of the lenders met.
